Turning to Estate matters, the total area of your Company's estate at Jctober 31 last was 3,519 acres, remaining the same as at the end of he previous financial year. 31 acres of young rubber matured during the year, and were transferred from Exvensions to Rubber in Bearing. 103 acres of old rubber were cut out, and he area prepared for replanting. This work was started in 1938, and completed in 1939, and is a part of the ive year programme of replanting 300 acres of old rubber on the most scientific lines, which I mentioned at Jur last annual meeting.
I recently met Mr. Pinching, our Visiting Agent, in Sumatra, and also visited the Estate during the month of March of this year. I was greatly pleased with the appearance of the state generally. Every endeavour is being made to maintain the Estate in 4 high state of efficiency. The steady improvement in the general condi-ion of the plantations has been re-Hected in this year's accounts by a reduction in our cultivation expenses.
Text read from the printed page and cleaned; old type leaves the occasional error.